Scarcity - Week 22

Something you choose to buy is an opportunity cost.

• True
• False

Scarcity is not having enough of something.

• True
• False

A benefit is something good or helpful.

• True
• False

If you choose an apple instead of a banana, the banana is the opportunity cost.

• True
• False

Scarcity is NEVER a big problem.

• True
• False

What will probably happen if something people want to buy is scarce?

• The price will go up.
• The price will go down.
• You will be able to get it for free.

When you give up something to buy another thing, the thing you give up is your __________.

• the benefit
• the opportunity cost
• scarcity

Not having enough of something is called _________.

• choices
• benefit
• opportunity cost
• scarcity

Every time we go shopping we make _______.

• choices
• money
• products

Every choice has a ________.

• benefit
• opportunity cost
• both